QL Resources
QL is set to rebound from a recent pullback, as it bounced off above the 21-day average yesterday while breaching the MYR5.08 resistance level – printing a “White Marubozu” bullish candlestick. If the positive momentum persists, the stock may travel towards the next resistance at the YTD high of MYR5.26, followed by the MYR5.40 threshold. However, the stock may reverse direction if it falls below the MYR4.90 support – which is also beneath the average line.
Bermaz Auto
Bermaz is poised to move past the sideways consolidation phase of MYR1.82 resistance, as buying interest was observed over the last two sessions – bulding up its momentum above the 21-day average line. If it manages to push past that resistance level, it may climb further towards the recent high of MYR1.88, followed by the MYR2.00 psychological level. If it falls below the support level of MYR1.73, the stock may trend downwards, forming a “lower low” bearish pattern.
